THE ANSWER
For some people, yes, partially. Dark hair on light skin, used consistently for months, generally gives noticeable reduction. They will not work on white, grey, blonde or red hair, and on darker skin they carry a real risk of burns and pigment changes. Whether one will work for you is decided almost entirely by your hair colour and skin tone, and the device's own chart will tell you.
Why
Home IPL devices use the same principle as professional laser: light absorbed by pigment in the hair, converted to heat, damaging the follicle. They are much less powerful than professional equipment, which is the main reason they are sold for home use at all.
That lower power has two consequences. Results are slower and less complete, which is why manufacturers specify months of regular use. And because the energy is lower, it tends to produce reduction rather than removal, so maintenance continues indefinitely.
The pigment requirement is unchanged from professional laser. No pigment in the hair means nothing to absorb the light, so light hair is unaffected regardless of how long you persist.
The skin tone limit is the more serious issue. In darker skin, melanin in the skin competes with the hair for the light. Manufacturers handle this by publishing suitability charts that exclude the darkest tones, and by building sensors into some devices. The problem is that the chart is usually inside the manual rather than on the box, so people buy a device that was never suitable for them and find out afterwards.
Is at-home IPL safe for dark skin?
For the darkest tones, manufacturers generally exclude use, and dermatology commentary documents burns, hyperpigmentation and hypopigmentation from home devices used on skin they do not suit. Check the specific device's own skin tone chart before buying, not after.
Is at-home laser the same as professional?
No. Home devices are far lower powered, which is what makes them legal to sell for unsupervised use. Expect slower, partial results and ongoing maintenance rather than what a professional course would give.
Will an IPL device work on my white or gray hairs?
No. The pigment requirement is the same as professional laser, and home devices are weaker. See does laser work on gray hair.
Is IPL permanent?
Home IPL generally produces reduction that requires ongoing maintenance rather than permanent removal. Only electrolysis is recognised as permanent hair removal.
What the evidence says
Manufacturers publish skin tone suitability charts that exclude the darkest tones for most devices. Dermatology commentary documents burns, hyperpigmentation and hypopigmentation from at-home IPL used on unsuitable skin. The pigment-absorption mechanism is the same as professional laser and is not disputed.
What to do next
Before buying anything, find the device's own skin tone and hair colour chart and check yourself against it honestly. If your skin is at the darker end of that chart, or if the hair you want gone is light, the device will not do what you want and may do something you do not want.
If either is true, see hair removal for darker skin tones or gray, white and blonde hair removal.